PIA has been tailoring insurance programs for manufacturers since we opened our doors in 1960. Manufacturing is the back bone of any strong economy. Insuring the success of the manufacturing industry requires a specialist. Our programs cover all aspects of manufacturing, plastics, metals, clothing, electronics, food, wood products etc. We insure the small one man custom furniture manufacturer to multinational manufacturing and exporting companies. Our carriers offer the broadest protection with the Manufacturers Output Policy. This product contains several of the common provisions found in your ordinary business package policy but include caveats to insured unfinished and rolling stock. In addition some carriers will even include coverage for the goods selling price to provide maximum protection from lost profits in the event of a loss. In most cases we can offer reporting forms to ensure the maximum amount of protection for your rolling and finished inventory.

What kind of coverage do you need?

As a bare minimum you should carry:

• General Liability to insure against third party negligence claims.
• Property to insure buildings, office equipment, stock, loss of income, and inventory.
• EDP to insure your computer hardware and software equipment.
• Transportation and Cargo to insure goods in transit away from your premises.
• Crime to insure against employee theft, and theft of monies and securities.
• Peak Season Endorsements to insure additional stock and product during heavy production periods.

In addition to the above types of coverage you may need:

• Workers Compensation which is required by law if you have any employees.
• Auto Insurance if your company owns any vehicles.
• Umbrella Liability Insurance for extra protection.
• Loss of Income from dependent properties. Necessary if you rely upon a singular provider of goods to produce your product.
• Product Recall Expense to insure against the cost of pulling products off of retail shelves.
• Mechanical Breakdown Insurance to cover sudden and accidental loss due to electrical surges in your air conditioning, appliances, or electrical systems.

Other considerations that we highly recommend are:

• Employment Practices Liability to insure against employee suits arising from sexual harassment, wrongful termination, and discrimination.
• Fiduciary Liability to insure against employee suits arising from employee benefit plans.
• Director's & Officer's Liability to protect your company and board of directors from liability suits.
• If your organization has a website we also recommend Media Liability Insurance

 ©2006 Professional Insurance Associates, Inc. All rights reserved.  PIA